Forex Managed Account – Do not Open One Until You Read This Review
Ever wondered how people are making money from home? You know it's happening for literally hundreds of thousands of people. Maybe using a Forex managed account is the way to go for you to make an income from home. Let's take a look.
People are tired of poor economies, politics at work, daily commutes, being under paid, etc. The Foreign Exchange market has become a place where many are turning to make a change in their lives. It's where world treaties are bought and sold. Price fluctuations of treaties present an opportunity to make money. And lots of it.
You can make money when you predict which direction a currency pairs price is heading. If you think it's going to go up, you take a long position. If you think it's heading down, you take a short position. Opportunities to make money in this manner happen frequently every trading day. The key is to have a method that consistently predicts the direction of price.
Forex managed accounts are pretty much what they sound like. You open an account with a trading firm and make a deposit. A trader from that firm will use your money to trade. They are in complete control. The hope is they are skilled at trading and will make you a decent return.
These companies charge you a percentage of your profits, spread on the BID and ASK, and transaction fees. Some also have annual membership fees.
You will have to advise the Forex account manager about your risk tolerance. This will dictate the types of trades that are made in the account. At the end of the day, your account can be traded to zero and there's not a thing you can do about it.
Personally, I would never use a managed account. I do not like the idea of ??a complete stranger making risky trades with my money. There is a better way.
Making your own trades is simple. There are new ways that have eliminated the need to have a Forex managed account. Using automatic Forex software is the way to do this.
Your next step? Find a proven automated trading platform instead of opening a Forex managed account.